Ternus Targets $58M Compensation as Apple's New CEO

Apple's new CEO John Ternus is set to earn a total target compensation of $58 million for fiscal year 2027, according to an updated SEC filing. This includes a salary of $3 million and an annual equity award with a target value of $55 million.

The equity award has two components: one quarter of the award vests semiannually over four years, while the rest will vest based on Apple's total shareholder return relative to other companies in the S&P 500. This is similar to how Tim Cook's RSUs have worked for many years.

Cook himself is receiving a salary of $2 million and an equity award with a target value of $45 million, half of which will vest based on Apple's stock performance and half that vests over four years. If Cook retires within the first year of the grant date, his equity will automatically vest.

Ternus' previous pay as senior vice president of hardware engineering was not publicly disclosed, making this the first look at his compensation package.